NEW DELHI: India and the United States appear close to finalizing a long-discussed bilateral trade agreement, with officials indicating that negotiations are largely complete and no additional rounds may be necessary.
“We are working towards a good trade deal in the interest of India — one that is fair, equitable, and balanced,” commerce and industry minister Piyush Goyal said at an event in the capital. “If it happens, it could be tomorrow, next month, or next year — the government is prepared for every scenario.”
A senior official confirmed that discussions with the US have reached an advanced stage. “They now have to revert to us. The agreement is among the most comprehensive and WTO-compliant pacts India has negotiated, with careful consideration for sensitive sectors. There is no fixed deadline,” the official noted.
The two countries have completed five rounds of formal negotiations, with Goyal and external affairs minister S. Jaishankar also engaging their American counterparts. The progress comes as US President Donald Trump recently signaled willingness to reduce the 50% tariffs on Indian goods, hinting that a deal could be sealed soon.
Talks on other trade fronts are also advancing. Discussions with New Zealand are reportedly in the final stage, with Trade Minister Todd McClay expected in India this Friday. EU Trade Commissioner Maros Sefcovic is likely to visit in mid-December for another round of talks, while the Gulf Cooperation Council (GCC) has expressed interest in launching negotiations. Bahrain and Qatar, both GCC members, are seeking separate bilateral arrangements.
Goyal is also set to travel to Israel next week to explore cooperation in trade and investments across defence, technology, and agriculture.
Addressing state commerce and industry ministers, Goyal outlined India’s evolving trade strategy — emphasizing that current agreements are being forged with developed nations, aligning with India’s vision of becoming a developed economy. He added that new market opportunities, including Russia’s fishery sector, are being explored to offset challenges arising from steep US tariffs.
